The World Bank (WB) Group has signed an agreement with the International Solar Alliance (ISA) to provide more than 1 billion dollars to support India’s solar initiatives.

The agreement was signed in the presence of World Bank Group President Jim Yong Kim, Union Finance Minister Arun Jaitley and Union Power Minister Piyush Goyal in New Delhi.

World Bank will support projects such as solar rooftop technology, infrastructure for solar parks, introducing innovative solar and hybrid technologies to market and transmission lines for solar-rich state.

It will provide 625 million dollars to India’s grid-connected rooftop solar programme that will finance the installation of at least 400MW of solar photovoltaic installations.